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A short course of lectures
«The mortgage answer book»





What is a conforming loan?What can I do if I cannot afford my monthly mortgage payment?How can I improve my credit score?Do I have to have credit counseling before I can get a reverse mortgage?How many mortgages can I have on one property?Risk and ProfitHow will an appraisal affect my down payment?Can VA loans only be used to buy a home?What is a SingleFile mortgage?How much can I borrow with a reverse mortgage?How much can I afford to pay for a home?What is recasting and how will it affect my mortgage?Are there scams a seller financing the purchase price should be aware of?What is an assumable mortgage?How does the property itself figure into the mortgage formula?Fixed Rate LoansWhat is private mortgage insurance (PMI)?What if I am paid on commission?Will I know if my loan is sold?What is the term of a mortgage, and how do I choose the right one for me?What about a gift letter?What are interest-extra loans?How do I benefit from this new knowledge?What payment plans are available, and how do I choose the right one?What is a home keeper mortgage?Can a seller finance the total purchase price?What other information do I need before buying a house?What is a deed of trust?Mortgages on Manufactured HomesDo I really need to know more about prepayment?What makes a manufactured home eligible for financing?What changes in the industry affect prepayment today?How do I know which index is right for me?Reverse Mortgage Comparison WorksheetHow can I best understand adjustable rate mortgages?Who buys these loans?What is interest, and how are interest rates determined?RefinancingWhat if I am self-employed?When do I want a fixed interest rate loan?What is a bridge loan?Why do we have inflation?Purchase Money MortgagesWhat are the financial requirements for qualifying for a reverse mortgage?Subprime MortgagesFirst-Time BuyersCan I use a gift to pay for my down payment?What else should I know about fixed rate loans?How does a home equity line of credit work?When should I consider bankruptcy?What is an index?How do I lock in the interest rate on my loan?Once I am prequalified or preapproved for a loan, is my prequalification or preapproval amount the price of the property that I should really be shopping for?What is a subprime mortgage?What are the advantages of a hybrid mortgage?What are points and buydowns?What are home equity loans?Is it worth talking to a financial counselor if I am facing foreclosure?What is an annuity?Is a longer- or shorter-term loan better for me?How do I find the right lender or mortgage broker?Facing ForeclosureWhat is the importance of knowing my spending habits?How does the foreclosure process work?What are the property requirements for obtaining a reverse mortgage?What is a home equity conversion mortgage?What if I have more permanent problems that prevent me from making my monthly mortgage payments?Adjustable Rate MortgagesHow can I avoid foreclosure?How much can be borrowed for a reverse mortgage?What is a subprime loan?InterestWhat is my credit history?What is a hybrid mortgage?What should a seller know about purchase money mortgages?How do I choose between an annuity and a reverse mortgage?Why are junior mortgages riskier for lenders?What are the advantages and disadvantages of judicial foreclosure?How do I find out if I am eligible for a VA mortgage?What is a pick-a-payment loan?What is a promissory note?What is a junior mortgage?UnderwritingHow can I improve my income-to-debt ratio?Hybrid MortgagesWhat else should I consider before I refinance?Terms of the MortgageWhat is a hard money mortgage?Should I try to buy down my interest rate?What is my credit score?What are the differences between A, B, and C loans?PrepaymentWhat are the advantages and disadvantages of interest-only loans?Appendix A. Amortization TablesHard Money MortgagesCan I prequalify for a loan through a lender?What are income-to-debt ratios?How do I make a budget?How do interest rates work?Can I use a gift from a stranger to make my down payment?What distinguishes FHA-insured reverse mortgages from non-FHA-insured reverse mortgages?What about bonuses?How do I compare fixed rate and adjustable rate loans?Can I sell the purchase money mortgage?How do I use the mortgage comparison worksheet?What if I am not ready to get a mortgage right now?Junior MortgagesWhy is the interest rate always a little higher for fixed rate loans?Jumbo LoansWhy do so many people have bad credit histories?What are balloon payment mortgages?What are the major FHA programs?How does inflation affect mortgages?Are there future problems that may arise?What are the disadvantages of an FHA loan?What is a loan-to-value ratio?Which indexes are most often used?What does it mean to prequalify for a loan?What are some foreclosure scams I should be aware of?About the AuthorWere the 2007-08 housing problems caused by hybrids?What is a margin?What is involved in getting a home equity loan?How do lenders use my credit score?What are the advantages and disadvantages of a fixed rate loan?What is foreclosure?What kind of credit card user am I?The Right Loan for YouAppendix C. The Real Estate Settlement Procedures ActWhy is it necessary to write down a budget?Home Equity LoansPayment PlansWhat are the criteria for a home equity conversion mortgage?What is the difference between being prequalified for a loan and being preapproved for a loan?How do I refinance?What is a prepayment penalty?What is a flexible payment adjustable rate mortgage?What are the disadvantages of a home equity line of credit?Why would a primary lender sell a loan?What are some temporary solutions for not being able to pay my mortgage?Can I avoid having to get a jumbo loan?What are biweekly payment plans?What is the mortgage industry?What is a graduated payment mortgage?What is a VA loan?What is an adjustable rate mortgage?The Effect of Inflation on MortgagesHow will a down payment affect a mortgage loan by the seller?Why would I get a home equity loan?What is next?What is a home equity line of credit?What factors do I need to consider before deciding whether or not to get a hybrid mortgage?What is underwriting and how does it affect my loan?Is poor credit the real problem with subprime mortgages?The Mortgage IndustryGovernment LoansHow do I find my credit history?What is a start rate?Should I consolidate my debts?What are government loans?Reverse MortgagesWhat is a jumbo loan?What is the major advantage of an FHA loan?Can a seller refuse to sell to people using FHA or VA loans?What is a purchase money mortgage?What does the secondary market mean to me?Prequalifying for a LoanWhat is predatory lending, and how can I avoid falling victim to it?Can a real estate agent prequalify me for a loan?What is a manufactured home?Appendix B. Home Ownership and Equity Protection ActWhat are back points?Why should I not just ignore the problem if I cannot afford to make my monthly mortgage payments?What are the advantages of a home equity line of credit?What is the Home Ownership and Equity Protection Act, and what is its purpose?Where can I get more information on financing a manufactured home?What is nonjudicial foreclosure?What is the other side of this exercise?Should I consider an adjustable rate mortgage?Can I prequalify myself for a loan using the Internet?How does a reverse mortgage work?What is a reverse mortgage?What is an FHA loan?What is a piggyback loan?Are there different types of reverse mortgages?Why should I refinance?What are the disadvantages of a hybrid mortgage?
 
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